Leveraging Big Data Analytics to Improve the Utilization Management Process | A Quantzig Engagement for an Insurance Company
LONDON--(BUSINESS WIRE)--Aug 23, 2018--Quantzig, a pure-play analytics solutions provider, has announced the completion of their latest . A leading health insurance firm wanted to develop a cohesive and predictive business model, which can readily account for the changing trends to help seal their brand stability. The client also wanted to identify thriving areas of investment in the health insurance marketplace.
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DATA ANALYTICS SOLUTIONS FOR A LEADING HEALTH INSURANCE COMPANY. (Photo: Business Wire)
According to the healthcare industry experts at , “ In the digitized age, a lot of people are concerned about security breaches when it comes to sharing their personal data with healthcare providers. ”
The use of health insurance among people is driven by factors like the outbreak of chronic diseases and increasing health costs. This has consequently led to the continuous growth and development of companies in the health insurance marketplace. However, processing of health insurance claims requires a huge amount of data. This acts as a major hurdle in the maintenance of an efficient and effective utilization management process.
The big data analytics solution helped the health insurance provider to tweak their planning, business management model, and determine performance metrics that are required in the health insurance marketplace. The client was also able to detect false medical claims, determine prospective areas of investment, and improve their utilization management (UM) process.
Big data analytics benefits for the client:Analyze the unstructured data and make profitable utilization management decisions. Gain insightful information to alter their model of business management. To know more about the benefits of data analytics engagement,
This data analytics engagement offered predictive insights on:Analyzing complex and diverse data to improve constantly and increase the patient care scope. Organizing the processes and establishing the client’s presence in the health insurance marketplace. To gain detail insights and understand the scope of our engagement,
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.
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INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE HEALTH OTHER HEALTH PROFESSIONAL SERVICES INSURANCE
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PUB: 08/23/2018 08:34 AM/DISC: 08/23/2018 08:34 AM